Baidu, Inc. (NASDAQ:BIDU) shares fell more than 3% on Wednesday after the Chinese technology giant reported mixed second-quarter fiscal 2025 results, with profit exceeding expectations but revenue falling short.
The company reported earnings per share of RMB13.58, surpassing consensus estimates of RMB13.33. Revenue for the quarter declined 4% year-over-year to RMB32.71 billion, slightly below expectations of RMB32.92 billion.
Baidu Core revenue totaled RMB26.3 billion ($3.66 billion), down 2% from the prior year. Online marketing revenue dropped 15% to RMB16.2 billion ($2.27 billion), while non-online marketing revenue rose 34% to RMB10.0 billion ($1.40 billion), supported by growth in the AI Cloud business.
Subsidiary iQIYI generated revenue of RMB6.6 billion ($926 million), an 11% decline from a year earlier. Adjusted EBITDA came in at RMB6.5 billion ($906 million), reflecting a margin of 20%.
